Standard Chartered has completed the acquisition of its remaining shareholding in South Africa-based First Africa Group Holdings Limited, a pan-African mergers and acquisitions advisory firm, by raising its holding to 100%.
It is expected to help the bank in providing M&A and leveraged finance services to its international clients in African-related transactions. Additionally, Standard Chartered has hired Stephen Priestley, formerly Managing Director and Head of Investment Banking for JP Morgan’s sub-Saharan business, to Head the Group’s M&A advisory team for Africa.
The team will primarily include the First Africa operations and Stephen will be appointed CEO of First Africa and Managing Director, Head of Corporate Advisory, Africa for the Group responsible for driving the advisory business in region.
First Africa is a M&A advisers firm in the mining, telecommunications and financial services sectors.
